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More women entrepreneurs have been making waves in the industry with their breakthrough and exceptional projects. The Cartier Women’s Initiative Awards recognizes the remarkable efforts of these women. Hence, they collaborated with INSEAD Business School and McKinsey and Company to start a business plan competition. This aims to provide women a platform to share their entrepreneurship projects. Among this year’s Laureates is Filipina Carmina Bayombong for her advocacy on education for underserved youth.

2019 finalists before the ceremony. (Photograph from Cartier)

Elevating women entrepreneurs

The Cartier Women Initiative Awards is a shared commitment of Cartier to women entrepreneurs. Since 2006, the platform has been supporting women in their projects that contribute to finding solutions for the world’s future. This year, the competition selected 21 finalists across the globe from over 2,900 applicants coming from 142 countries.

“The Ripple Effect” is the ceremony’s theme for 2019. They pay tribute to men and women entrepreneurs who lead the growth and positive change in their communities. Seven Laureates received $100,000 in prize money and $30,000 for the rest of the 14 finalists. They will all benefit from professional networking opportunities, personalized mentoring, media visibility, and position on an executive INSEAD program.

Founder of InvestEd Carmina Bayombong with her Cartier Women’s Initiative award. (Photograph from Cartier)

Investing in education

The competition awarded Filipina Carmina Bayombong for her education advocacy. Carmina shares how in her university days, her fellow classmates would struggle to reach their academic potential. “They were taking on extra jobs… some even dropped out,” she explains. Inspired by the situation of students with financial constraints, Carmina Bayombong with co-founder Melissa Dee established InvestEd. It is a student loan service for marginalized students. The three-tier platform selects the candidates who are in most need, draws investors, and ensures repayment. They are also planning to develop Borrow Success. It is a platform to train borrowers in employment and financial literacy. “By 2020 we plan to license it to banks and schools to develop more effective loan programs,” Carmina says.

This article was originally written by Sara Siguion-Reyna. Read the full story of Carmina Bayombong on Lifestyle Asia’s July Edition titled, “Visionaries in their Own Right.” Download your digital copy on Magzter and Flip 100, or purchase your print copy on LazadaShopee or your nearest bookstore. For orders, email [email protected]

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